View Full Version : Food Inflation/Deflation



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Canoe
12-17-2021, 09:22 AM
Penn Wharton University of Pennsylvania

https://budgetmodel.wharton.upenn.edu/issues/2021/12/15/consumption-under-inflation-costs

Inflation is going to cost the average family an extra 3000 dollar over the next year. If you make 12 dollars an hour after taxes then you will need to work an additional 250 hours to maintain the same quality of life you recieved this year.

Bits_Of_Real_Panther
12-17-2021, 12:06 PM
I grabbed a rotisserie chicken from Sprouts, they used to be $6.99. Now $7.99, I believe that is a 14% increase.

mugofbeer
12-17-2021, 01:18 PM
I posted this on another thread but it's more appropriate here.

Supply v. Demand wins out again. Economist admits he was wr...wr...wr...wrong.

https://www.mediaite.com/news/nyt-ec...on-transitory/

Canoe
01-12-2022, 09:53 AM
https://www.bloomberg.com/news/articles/2022-01-12/inflation-in-u-s-registers-biggest-annual-gain-since-1982?srnd=premium

Highest inflation rate in 40 years.

Jersey Boss
01-18-2022, 12:57 PM
https://www.bloomberg.com/news/articles/2022-01-12/inflation-in-u-s-registers-biggest-annual-gain-since-1982?srnd=premium

Highest inflation rate in 40 years.

Increasing spending on the military significantly adds to the problem. Even though we exited Afghanistan the on the book spending is going up over 7% next year. Keep in mind we are done in Afghanistan. The military "demand" takes raw materials out of the economy while not supplying goods in return. Ike was right.

https://www.macrotrends.net/countries/USA/united-states/military-spending-defense-budget

Canoe
01-18-2022, 08:09 PM
Increasing spending on the military significantly adds to the problem. Even though we exited Afghanistan the on the book spending is going up over 7% next year. Keep in mind we are done in Afghanistan. The military "demand" takes raw materials out of the economy while not supplying goods in return. Ike was right.

https://www.macrotrends.net/countries/USA/united-states/military-spending-defense-budget

You are correct. A more centralized/controlled economy leads to the misallocation of resources which leads to inflation, shortages, and a black market. We have discussed inflation and here is a link to shortages...

https://www.npr.org/2022/01/12/1072462477/grocery-shortage-shelves-reasons

Canoe
01-26-2022, 12:57 PM
Buy your bacon before March.

https://www.cnn.com/2022/01/26/business/oscar-mayer-hot-dogs-velveeta-cheese-kraft-heinz/index.html

Canoe
03-22-2022, 10:35 AM
It appears that the winter wheat yield in Oklahoma was lower than expected.

https://www.agweb.com/news/crops/wheat/plains-drought-curb-us-wheat-harvest-adding-global-supply-worries

This could effect prices in the market.

Jersey Boss
03-22-2022, 12:12 PM
It appears that the winter wheat yield in Oklahoma was lower than expected.

https://www.agweb.com/news/crops/wheat/plains-drought-curb-us-wheat-harvest-adding-global-supply-worries

This could effect prices in the market.

Not to make light of the drought affecting wheat in the plains, but the invasion of Ukraine and the sanctions that resulted will have a much bigger impact on world wheat prices.

What does conflict in Ukraine mean for U.S. wheat? | Successful Farming
https://www.agriculture.com/news/crops/how-the-ukraine-situation-affects-us-wheat

mugofbeer
03-23-2022, 09:08 PM
Not to make light of the drought affecting wheat in the plains, but the invasion of Ukraine and the sanctions that resulted will have a much bigger impact on world wheat prices.

What does conflict in Ukraine mean for U.S. wheat? | Successful Farming
https://www.agriculture.com/news/crops/how-the-ukraine-situation-affects-us-wheat

Unfortunately, l believe very little, if any of the higher prices will benefit farmers. Any benefit will be more than offset by higher energy and fertilizer costs to the farmer.

Canoe
03-24-2022, 09:27 AM
Much of the inflation was already at a four-decade high before the attack in late February. The war will certainly make the situation worst.

Canoe
05-12-2022, 08:57 PM
Here is an article describing which foods have aeen the most inflation. This can be useful for those who need to economize during these times.

https://www.cnn.com/2022/05/11/economy/grocery-prices/index.html

Canoe
07-14-2022, 02:59 PM
Yikes! I knew it was going to be bad, but not this bad. 12% average food inflation over the last year. More for eggs, meat, and butter obviously. Anyone want to guess how much worst it will get?